Juniors move higher on Monday
The market ended with bids for 7 stocks closing higher than their last selling prices and 3 ending with lower offers.
At the end of trading, Access Financial Services closed with a gain of 50 cents at $17 with 1,162 units changing hands, CAC 2000 close with 2,400 units trading at $6.50, Caribbean Cream gained 14 cents to end at $4.65, after trading 50,000 shares, Caribbean Producers traded 38,186 shares and gained 10 cents, to close at $4.60. Consolidated Bakeries traded 20,000 shares with a gain of 4 cents, to close at $2.04. Dolphin Cove traded 38,920 units and gained 20 cents to end at $11.20, General Accident Insurance fell by 18 cents in trading 6,650 units at $2.26. KLE Group traded 100 units and fell 24 cents to close at $1.36, Knutsford Express closed with 20,120 units changing hands at $17.50, Lasco Distributors fell 30 cents with 105,688 units trading at $7.60. Lasco Financial closed with a rise of 16 cents at $3.30 with 257,296 shares changing hands while Lasco Manufacturing traded 1,200,628 shares and gained 15 cents to close at $4.75 and tTech traded just 100 units at $4.30.
Buy Rated stocks set for growth
In Trinidad, the market drifted from a peak in the all T&T index at 1,956.55 on December 8, 2015 to a 2016 low of 1,758.40 on May 19. The movements the Jamaica’s junior market saw the index peaking at 2,357.20 on 12th of January and bottomed out on the 7th of April at 1,762.87 points, for a decline of 24.5 percent but have since recovered most of the decline.
Much have happened with companies releasing results since with a number of the results in Trinidad being flat to declining, while most in Jamaica show good increased profit, while interest rates have declined in Jamaica and been static in Trinidad. Added to the profit out turn, a few companies in Jamaica announced stocks splits which have driven the respective prices of all the companies up strongly. Grace Kennedy, one of IC Insider Buy Rated stocks that has been lagging in performance, came to life as the company reported strong increase in the March quarter results, with the price jumping to $115 and seems to have more room to grow, based on the improved results. Pan Jamaican Investment gained 42.5 percent since it was last reported on at the end of April, helped by a 5 for 1 stock split and is up 82 percent since selected to the BUY RATED list. The company has good long term growth prospect but may have plateaued at the current price, around $26.50. The stock has been moved to a watch from BUY RATED.
Honey Bun added to the BUY RATED list in November 2015, gained 112 percent since April and 387 percent since being added to the list. Strong growth in profits and a 5 for 1 stock split helped in moving the value of the stock. ISP Finance added in April, is up 20 percent but there is little supply to be obtained, a recipe for a strong rally in the price ahead. Knutsford Express was put on hold when last reported on and has slipped 20.5 percent, is now restored to a buy below $20 while Lasco Distributors placed on a Watch list last time, is up 52.6 percent and is now placed on watch list at current price at $7.60, supply seems to be drying up for this stock, following release of full year’s results. While investors have priced in a potential big inflows from their law suit claim with Pfizer, at a PE ratio around 20 times fiscal 2017 operating profit, investing at the levels could result in an investment that may underperform the market in the medium term.
Cable & Wireless is up 22.5 percent since April and 332 percent since it debuted on the list in February 2014. The company reported a small profit from operation, for this year to March, and seems headed for earnings around 20 cents per share for 2017. The price should be heading higher before too long, but demand is not electric currently.
General Accident and Honey Bun are placed on the watch list with the former unable to get profit to rise outside the range of 30 cents per share and the latter now being priced at a PE of 18, well ahead of the average for the junior market. Honey Bun supply notwithstanding the 5 for 1 stock split, is scarce but profit growth could continue to be strong thus lending support to the stock going forward.
Companies in Trinidad are not doing well but their performance is not disastrous in the main with the price of a number of stocks have pulled back sharply and will offer good entry points when it is time to buy into that market. The time may not be right to enter that recession affected market just yet. Technical reading of this market shows it peaking at 2,032 points and have lost 13.5 percent since then and could fall another 9 percent from the May 2016 levels to reach 1,600 points before the decline is over. A look at the trading report shows that the prices of some major companies remain under pressure and is likely to fall as demand remains weak.
Technical and fundamental assessments suggest that Access Financial, Caribbean Cream, Medical Disposables and National Commercial Bank are due for a break out sooner than later, with Caribbean Cement to follow.
C2W Music monster trade – Thursday
A total of 17 securities traded with 7 advancing and 8 declining. The market ended with bids for 7 stocks closing higher than their last selling prices and 3 ending with lower offers.
At the end of trading, AMG Packaging traded 1,200 shares to close at $12.45, after adding 45 cents, Caribbean Cream closed with a loss of 4 cents at $4.65, after trading 183,500 shares, Carib Flavours closed at $7.99 after losing 1 cent, in trading 200 shares. Consolidated Bakeries traded 283,078 units and gained 11 cents to end at a 52 weeks’ high of $2.12, C2W Music closed with 53,814,091 shares trading with a loss of 1 cent at 34 cents, General Accident had 2,200 shares trading with a gain of 26 cents to close at $2.44. Honey Bun traded for the first time after its 5 for 1 stock split and closed at a 52 weeks’ high of $5 with a gain of $1.20 with 170,860 units changing hands, Iron Rock Insurance traded 628,310 shares but shed 20 cents to end at $3.20. Jamaican Teas traded 17,039 units to close with a loss of 5 cents at $3.80, Jetcon Corporation rose 7 cents in trading 23,525 units at $2.87, Key Insurance gained 6 cents with 61,900 shares at $2.75. KLE Group ended at $1.60 with 9,300 shares changing hands Knutsford Express fell 50 cents in trading 6,200 shares to close at $17.50, Lasco Distributors fell 10 cents with 1,000,000 units trading at $7.90. Lasco Financial closed with a gain of 4 cents at $3.34 with 5,979 shares changing hands while Lasco Manufacturing traded 1,099,242 shares and fell 19 cents to close at $4.50, Medical Disposables ended with 5,000 units changing hands to close with a gain of 1 cent at $3.50 and tTech traded 8,537 units at $4.30.
Limited junior market activity
Overall trading was moderate as only a few securities were active in the junior market. At the close the market index rose 0.61 points to end at 2,128.14. The market closed with 829,940 shares valued at $2,963,453 changing hands.
A total of only 9 securities traded of which 3 advanced and 2 declined. The market ended with bids for 10 stocks closing higher than their last selling prices and 2 ending with lower offers.
At the end of trading, Caribbean Cream closed with a gain of 10 cents at $4.70, after trading 60,000 shares, Consolidated Bakeries traded 160,682 units and gained 20 cents to end at $1.80, Jamaican Teas traded 80,048 units to close at $3.90, Jetcon Corporation lost 15 cents in trading 35,685 units at $2.85, KLE Group traded 2,381 shares and closed at $1.61. Lasco Distributors closed with 72,543 units trading at $7.50. Lasco Financial closed at $3.15 with 315,995 shares changing hands after falling 15 cents, Lasco Manufacturing traded 55,902 shares and rose 30 cents to close at $4.70 and tTech ended with 45,704 units changing hands at $4.50.
Wide spread gains for Juniors on Friday
The junior market enjoyed one of the best days for some time with advancing stocks out numbering decliners by a wide margin but with a narrow range of companies trading. The strong number of gains led to a 29.10 points rise in the index to end at 2,127.53. The market closed with 1,336,391 shares valued at $9,501,843 changing hands.
A total of 15 securities traded of which 10 advanced and 1 declined. The market ended with bids for 6 stocks closing higher than their last selling prices and 3 ending with lower offers.
At the end of trading, AMG Packaging rose 35 cents with 7,949 shares trading, to end at $12, Caribbean Cream closed with a gain of 13 cents at $4.60, having traded 23,112 shares. Caribbean Flavours traded 1 million units at $8, Consolidated Bakeries traded 94,255 units to gain 10 cents and end at $1.60, General Accident rose by 3 cents with 20,000 units changing hands to close at $2.18. Honey Bun gained $1 and closed at $19 with 960 shares traded, Jamaican Teas traded 1,542 units and gained 35 cents in the process to close at $3.90, Knutsford Express traded 190 shares and lost 70 cents to close at $16.80, Lasco Distributors gained 5 cents and closed with 87,170 units trading at $7.50. Lasco Financial closed at $3.30 with 20,000 shares changing hands to gain 1 cent, Lasco Manufacturing traded 68,713 shares and rose 10 cents to close at $4.40 and tTech regained the 20 cents it lost on Thursday and ended with 12,500 units changing hands at $4.50.
Advancing juniors dominate – Friday
At the end of trading, AMG Packaging closed at $10.51 with 3,000 units changing hands, CAC 2000 gained 9 cents and closed at $6.50 with 1,539 units changing hands, Caribbean Cream rose 5 cents with 12,715 shares changing hands at $4.46, Caribbean Flavours traded 2,000,100 shares and rose $1.50 to end at $8, Consolidated Bakeries gained 10 cents to end at $1.60 with 10,500 shares changing hands. General Accident traded at $2.10 with 50,000 shares trading, Honey Bun closed at $22, with 2,025 shares trading, ISP Finance traded 79,943 units and ended with a 6 cents gain to close at a 52 weeks’ high of $2.85, Jamaican Teas traded 5,300 units to close at $3.90. Knutsford Express closed with a loss of 50 cents at $17.50 with 4,600 shares trading, Lasco Distributors fell 4 cents and closed with 159,489 units trading with the price closing at $7.36. Lasco Financial closed at $3.35 with 17,866 shares changing hands after rising 20 cents and Lasco Manufacturing closed at $4.44 with 41,865 shares trading.
Tight embrace falling & rising stocks – Thursday
At the end of trading, Caribbean Cream rose 40 cents with only 300 shares changing hands at $4.40, Caribbean Flavours traded 30,000 shares with a fall of 75 cents to end at $6.50, Consolidated Bakeries closed at $1.50 with 73,200 shares changing hands. General Accident gained 4 cents to $2.10 with 260,368 shares trading, Honey Bun closed at $22, with 13,135 shares trading, Jetcon Corporation traded 1,050 units to close with a loss of 5 cents at $2.75. KLE Group closed with 79,000 shares trading at $1.68, Lasco Distributors closed with 102,750 units trading with the price closing at $7.40 after gaining 10 cents. Lasco Financial closed at $3.15 with 14,400 shares changing hands after slipping 15 cents. Lasco Manufacturing fell 16 cents to close at $4.44 with 75,774 shares trading, Medical Disposables closed with 15,000 units changing hands at $3.50 and tTech traded 129,000 units at $4.50.
8 junior stocks up 4 down – Wednesday
At the end of trading, Caribbean Cream lost 50 cents with 514,085 shares changing hands at $4, Caribbean Flavours traded 8,035 shares with the rise of 5 cents to end at $7.25, Caribbean Producers traded 3,000 shares at $4.55 after rising by 55 cents, Consolidated Bakeries fell 10 cents and closed at $1.50 with 41,850 shares changing hands. Dolphin Cove rose 17 cents while trading 2,524 units to close at $12.68, General Accident gained 6 cents to $2.06 with 322,467 shares trading, Honey Bun closed with a jump of $5.50 to $22, with 117,182 shares trading. Iron Rock Insurance gained 25 cents in trading just 2,000 shares to close at $3.75, Jamaican Teas traded 500 shares to end at $3.90, Jetcon Corporation traded 7,000 units to close with a loss of 10 cents at $2.80. Knutsford Express closed with 1,075 shares trading at $18, Lasco Distributors closed with 155,159 units trading with the price closing at $7.30. Lasco Financial closed at $3.30 with 220,955 shares changing hands after rising 10 cents. Lasco Manufacturing fell 15 cents to close at $4.60 with 223,175 shares trading, Medical Disposables closed with a rise of 8 cents as 3,100 units changed hands at $3.50, Paramount Trading ended with 17,440 shares trading with a loss of 5 cents at $11 and tTech traded 170 units at $4.50.
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